How to Create a New Financial Year in eCount ERP

Last updated Jun 23, 2026

Why a New Financial Year Matters

Creating a new financial year separates each fiscal period, ensuring accurate profit‑and‑loss, balance‑sheet and tax reporting required by the government.

Step‑by‑Step: Create a New Financial Year

  1. Open Utility → Year End → New Financial Year. The system auto‑fills the From and To dates for the next year.
  2. Verify the dates. If you want to carry forward the closing balance, tick Import current year data.
  3. Leave the Create bank checkbox unchecked (it creates a back‑year).
  4. Click Create. The process takes 2‑3 minutes.
  5. After creation you will be logged out; log in again to work in the new fiscal year.

Working with Multiple Years

Use the year selector at the top of the screen (e.g., “2026‑2027”) to switch between years. You can enter pending transactions in the appropriate year.

Carry Forward Balances to the Next Year

  1. Return to Utility → Year End → Update Back Your Balance.
  2. Select Update Opening and, if needed, Update Stock to carry closing stock to the new opening.
  3. Confirm. The update completes in about a minute.

Extending a Financial Year

If you need a longer period (e.g., 2026‑2030), open the year in Edit mode, adjust the dates, and the system will extend the year automatically.

Common Questions

  • Do I need to perform year‑end for each branch? No. Year‑end is processed once and applies to all branches.

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Frequently asked questions

Go to Utility → Year End → New Financial Year, verify the auto‑filled dates, check Import current year data if you want to carry forward balances, leave Create bank unchecked, and click Create. Log in again to start using the new fiscal year.

If the opening balances of the current year do not match the closing balances of the previous year, run Utility → Year End → Update Back Your Balance and select Update Opening (and Update Stock if needed). This will align the opening balances with the prior year’s closing balances.

The system only accepts dates that fall within the active financial year. If you try to enter 01/04 outside the current fiscal range, you will receive an error. Complete the year‑end process or create/extend the financial year first, then enter the date.

Quick info

Category
Accounting
Type
Article
Difficulty
Beginner
Updated
Jun 23, 2026

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